Cardano (ADA) price experienced a notable surge, reaching $0.728 in the past 24 hours, highlighting bullish market sentiment. This gain comes fueled by growing anticipation surrounding the potential approval of a spot ADA exchange-traded fund (ETF) in the US. Polymarket data suggests a 55% probability of this approval by the end of 2025. !
Further momentum is expected as ADA finds support at its 20-day exponential moving average ($0.6723), signifying potential for continued upward movement.
The surge also follows Grayscale’s initial application for a spot ADA ETF with the SEC on February 10, 2025. The filing is currently under review and expected to reach its decision deadline by April 10, with a maximum extension pushed to October 22. A listed ADA ETF would provide institutional investors with a way to gain exposure to Cardano without directly managing cryptocurrency assets.
The article ‘ADA Price Prediction: Bulls Eye $0.80 Breakout as ETF Bets Build Up’ appears first on Coin Edition.